Republic Acts1 min read
Section 4Sec./Art. 4
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Dispersal of Ownership. - In accordance with the constitutional provision to encourage the public participation in public utilities, the grantee shall offer at least thirty percentum (30%) of its outstanding capital stock or a higher percentage that may hereafter be provided by law in any securities exchange in the Philippines within five (5) years from the commencement of its operations as a corporation. Noncompliance therewith shall render the franchise ipso facto revoked.
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